China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD) is one of the best performers on the stock market today. At current price of $1.11, the shares have already added 0.05 points (4.72% higher) from its previous close of $1.06. Should you buy or avoid them? The stock sets an active trading volume day with a reported 209743 contracts so far this session. CJJD shares had a relatively better volume day versus average trading capacity of 776.75 thousand shares, but with a 23.48 million float and a -12.4% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CJJD stock indicates that the average analyst price target is $7 per share. This means the stock has a potential increase of 530.63% from where the CJJD share price has been trading recently which is between $1.05 and $1.12.
The shorts are climbing into China Jo-Jo Drugstores, Inc. (CJJD) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in CJJD shares. While short interest still represents only 0.64% of CJJD’s float, the number of shares shorted have risen by 314950. The number of shares shorted advanced to 465446 shares, up from 150496 shares during the preceding fortnight. With average daily trading volumes at 1204440 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Penny Stocks to Buy Using Technical Analysis for May 2019” and dated May 06, 2019.
During the recent trading session for China Jo-Jo Drugstores, Inc. (NASDAQ:CJJD), the company witnessed their stock drop by $-0.15 over a week and tumble down $-0.51 from the price 20 days ago. When compared to their established 52-week high of $3.39, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/10/19. The recent low of $1.05 stood for a -67.26% since 05/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.17 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for China Jo-Jo Drugstores, Inc., the two-week RSI stands at 29.21. This figure suggests that CJJD stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CJJD readings is similarly very revealing as it has a stochastic reading of 7.24% at this stage. This figure means that CJJD share price today is being overbought.
Technical chart claims that China Jo-Jo Drugstores, Inc. (CJJD) would settle between $1.1/share to $1.15/share level. However, if the stock price goes below the $1.03 mark, then the market for China Jo-Jo Drugstores, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.01 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.08. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Moving on, CJJD stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.48 while for the average stock in the same group, the multiple is 1.33.